Ieq Capital LLC Buys 16,570 Shares of Parsons Co. (NYSE:PSN)

Ieq Capital LLC grew its stake in Parsons Co. (NYSE:PSN) by 676.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,019 shares of the company’s stock after acquiring an additional 16,570 shares during the period. Ieq Capital LLC’s holdings in Parsons were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSN. ORG Wealth Partners LLC acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC boosted its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. True Wealth Design LLC acquired a new stake in Parsons in the third quarter worth about $30,000. Principal Securities Inc. acquired a new stake in Parsons in the fourth quarter worth about $33,000. Finally, R Squared Ltd bought a new stake in Parsons during the 4th quarter worth about $38,000. 98.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSN has been the subject of a number of recent research reports. TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Friday. KeyCorp cut their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Robert W. Baird cut their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Stock Performance

Shares of PSN stock opened at $59.45 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. Parsons Co. has a 12 month low of $57.86 and a 12 month high of $114.68. The business’s 50-day moving average price is $85.91 and its 200-day moving average price is $95.24. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 78.22, a PEG ratio of 0.93 and a beta of 0.73.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.